RLI (NYSE:RLI) Stock Rating Reaffirmed by Royal Bank of Canada

RLI (NYSE:RLI)‘s stock had its “sector perform” rating reissued by equities researchers at Royal Bank of Canada in a report issued on Tuesday, Benzinga reports. They presently have a $162.00 price objective on the insurance provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 3.68% from the stock’s current price.

RLI has been the topic of a number of other reports. Jefferies Financial Group cut their price target on RLI from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, June 14th. Compass Point dropped their price objective on shares of RLI from $175.00 to $170.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Keefe, Bruyette & Woods raised their target price on RLI from $169.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of RLI in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $173.80.

RLI Stock Up 2.7 %

RLI opened at $156.25 on Tuesday. The stock has a market cap of $7.15 billion, a PE ratio of 21.58 and a beta of 0.41. RLI has a twelve month low of $125.77 and a twelve month high of $160.47. The company has a fifty day moving average of $151.60 and a 200-day moving average of $146.02.

RLI (NYSE:RLI) last announced its quarterly earnings data on Monday, July 22nd. The insurance provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.37. RLI had a return on equity of 18.33% and a net margin of 20.78%. The company had revenue of $416.44 million for the quarter, compared to the consensus estimate of $561.60 million. During the same period in the previous year, the business earned $1.16 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. Sell-side analysts anticipate that RLI will post 6.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RLI. EverSource Wealth Advisors LLC raised its position in RLI by 45.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 246 shares of the insurance provider’s stock valued at $37,000 after buying an additional 77 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in RLI by 5.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 1,633 shares of the insurance provider’s stock valued at $230,000 after purchasing an additional 89 shares during the period. Inspire Investing LLC increased its stake in shares of RLI by 3.8% in the second quarter. Inspire Investing LLC now owns 2,502 shares of the insurance provider’s stock worth $352,000 after purchasing an additional 92 shares in the last quarter. CWM LLC grew its position in shares of RLI by 3.4% in the third quarter. CWM LLC now owns 3,875 shares of the insurance provider’s stock valued at $601,000 after purchasing an additional 126 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of RLI by 0.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 25,815 shares of the insurance provider’s stock worth $3,832,000 after buying an additional 128 shares in the last quarter. Institutional investors own 77.89% of the company’s stock.

About RLI

RLI Corp., an insurance holding company, underwrites property and casualty insurance. Its Casualty segment provides commercial and personal coverage products; and general liability products, such as coverage for third-party liability of commercial insureds, including manufacturers, contractors, apartments, and mercantile.